Tax Avoidance
Tax Avoidance is the name given to the process of minimising the amount of tax you pay, whether it's income tax, corporation tax, inheritance tax, or any other kind.
It involves exploiting loopholes in tax laws and distributing your assets and income in such a way that you pay as little tax as possible.
While tax avoidance is completely legal, it is an unpopular practice with the Treasury for obvious reasons, and new rules introduced in 2004 mean that an accountant must notify the Inland Revenue of any loopholes they intend to exploit, to give the authorities chance to tighten up the rules.
Tax Avoidance should not be confused with Tax Evasion, which is very definitely illegal and will often earn you a stay at the pleasure of Her Majesty's Government.
Related Directory Categories: |
| A B C D E F G H I J K L M N O P Q R S T U V W X Y Z 0-9 |
